CBO Report Finds House GOP Highway Bill Would Bankrupt Trust Fund

Republicans are pushing back against a new report from the Congressional Budget Office (CBO) that says the highway bill would bankrupt the nation’s trust fund for road projcts.

The CBO report released late Monday night finds that the cost of the $260 billion bill would not be offset by the gas tax paid by motorists and increased revenue the government would enjoy from provisions in the bill that would expand domestic oil and gas drilling.

It predicts the highway trust fund, which operates off the gas tax, would be $78 billion short after 10 years under the highway bill.

Republicans argue the CBO is not giving enough credit for money raised through domestic oil drilling, a central part of the GOP plan.